The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-08-08
GENERAL RAILWAY NEWS.
Matters OF Money and Management
About Various Lines.

The Louisville and Nashville statement,
to be issued in about three weeks will show
good surplus for the year on large traffic.
The only increase of the debt has been in
the issue at $4,000 per mile of new road Of
81 $50, 900 first mortgage bonds at 5 per cent
at higher price than was ever before paid
for any Of its 6 or per cent. bonds.
Wal Street Daily Nescs asks, what has
become Of the to 10 per cent profit on the
Memphis and Charleston and says: "A
meeting of the stockholders will be held,
and it has been decided to institute legal
proceedings 10 compel an accounting, and
the Kansas City road has proposed to lease
the Memphis and Charleston, with guar
antee Of per cent. per annum to holders
of the common stock.
The line of the Chattanooga, Rome and
Columbus railroad has been definitely 10
Gated into Chattanooga, and a terminus has
been secured. The line is now located and
will run from point near the tack factory
at the southern end of the city All the
property owners from that point to Mont
gomery avenue. have agreed 10 donate the
necessary grounds with the exception of a
single lot, which fronts on the avenue, and
of which no one knows, who is the owner
The freight depot and switching grounds
have been donated, and the papers were to
have been signed Friday.
"Col. W J. VIM, of Savannah, an old
railroad contractor and civil engineer, has
secured a sub contract from the James
Brothers for the grading of sixteen miles
Of the Georgia Southern and Florida road
from Valdosta NORTH" says the Valdosta
Times. They have shipped their wheel
barrows and axes to ValdoSta, and will
begin to work at this point as soon as the
surveyors can locate the line President
Willis &. Sparks has returned from New
York, where he bought the first installment
of twenty-five miles of heavy steel rails.
which is now en- route to Triton. The work
all along the line is being pushed as rapidly
as it can be for such unfavorable weather,
and it is believed that between 900 and
1000 hands will be at work by Sept. l. The
James Brothers are advertising for 1900
hands and will pay 81 day"
In their report of 1885 the Georgia rail
road commissioners said: 1.-THE records of
this office show that for the five years pre-
viOus 20 the establishment of the commits
sion lin 1879 there were built within the
State less than 100 miles of railroads, and
that during the five years since the estab-
lishment of the railroad commission more
than 800 miles of railroads have been con
structed within the limits of the State The
great year for railroad building, however
was 1882, and about 600 miles of road was
built within the State in the four years be
ginning with 1882 The construction in
each year was as follows: 316 so miles in
1882, 81. so miles in 1883, 94.00 miles in 1884
| and l33. Is miles in 1885, making total OF
$685. miles constructed in the four years
The report of the commission, issued Oct
rs, 1886, says: Enough information, how
ever, has been obtained to warrant the be-
lief that perhaps as many miles have been
constructed within the past year as ever be
fore in the history of the State About two
hundred miles of track has been
laid, and the incomplete reports all
! have shown that more than one hundred
miles have been graded, upon which the
| track has not been laid" The report OF
June y, 1887, says that the commission is
unable to report the number of miles of
track laid or road-bed graded since the last
report, because the railroad companies
failed TO respond to their circular calling
for information. They report that two new
companies have asked for freight and pas
senger rates, namely, the Augusta, Gibson
! and Sandersville, and the Midwife, SWANS
boro and Mount Vernon railroad COM
panieS